How to Avoid Getting Denied with Your Seaman Loan Application to Any Lending Company in the Philippines

As a professional and qualified loan consultant for more than 2 years now, I have encountered so many clients applying for seaman loan in the Philippines getting denied with their application. Now, there are so many reasons based from my own study and experience why a seafarer (seaman or seawoman) gets denied on their loan.

Lending Company for Allottee Loan of Seaman in the Philippines

Pinoy Seaman Onboard

Apart from seaman loan, the receiver of extra salary called allotment may also apply for a loan. This is called as the allottee loan and if you are one and would like to get quick cash in the Philippines, there are a lot of choices. As a professional and qualified Filipino loan consultant, I would like to tip you off where you can apply for and find a lending company for allottee loan of seaman.

First off, there is a lending company that offers allotment loan only if you have already gotten approved of a previous loan application and your payment status is in good standing. On the other hand, if you do not have good standing for your payment, chances are, since you are already in what is called in the lending industry in the Philippines as bad credit seaman, you will no longer be allowed to apply or qualify for a loan.

Seaman Loan No Advance Interest No Agents Fee

It's a wrong impression to think that seaman loan lending companies charge for agent's fee or advance interest or that loan proceeds get deducted with such fees and charges unless otherwise it is specified or declared by your loan agent and presented to you by the lending marketing and loan presenting officers in the form of the different charges for your loan application. This presentation is done upon final approval and before loan contract signing.

Please be reminded that as a loan broker or consultant, I don't refer seafarers to lending companies that charge advance interest or agent's or broker's fee unless otherwise the maritime worker had no other choice but to go for the last resort option due to delinquent and bad credit accounts with a bank or a previously applied loan in other lending providers and private financing firms. Hidden charges is against the law and seafarers should know that. This fact being so, all the loan charges with my providers will be presented to you upon loan final approval before you sign the loan contract. Otherwise, if anything is not clear to you, then don't sign and get the loan or you can ask what the charges are about upon loan presentation before final availment.